Digiserve receives ?2 million

Investee Company – Digiserve Ltd (Ireland)

Investee Company Business Type – Publishes online Internet services

Type of Financing – Development capital

Equity Providers – Cross Atlantic Capital Partners, Crucible Corporation, CSA Financial

Equity Leader (Individual) – Justin Rea, Cross Atlantic Capital Partners

Debt Providers – N/A

Debt Type -N/A

Debt Leader (Individual) – N/A

Equity Amount – €2 million

Total Deal Value – €2 million

Other Advisors – N/A

Comments- Digiserve, a new media publishing company, has received a new round of financing from its existing investors. Cross Atlantic Capital Partners, Crucible Corporation and CSA Financial have participated in this €2 million round, which is expected to see the company through to profitability.

The latest round of financing will be used to launch a new range of premium services for target audiences at home and abroad.

Digiserve is based in Dublin, Ireland. The company, which was founded in September 1999 by Colm Grealy and Barry Flannagan, publishes four Internet online services; online.ie, IrishAbroad.com, hotpress.com and Irishsites.com. The websites have a combined registration membership of 150,000. Digiserve has also recently completed exclusive partnership agreements with The Irish Post Office and the Irish Voice newspaper, based in the US.

Justin Rea, principle of Cross Atlantic Capital Partners, commented: “This latest capital injection continues our commitment to a management team which has unparalleled Internet experience in Ireland. We believe in the company, they are totally focused on creating and building valuable assets in this space”.

Digiserve’s managing director, Colm Grealy, added: “This is an important vote of confidence in our business model and proves our resilience in what continues to be a difficult investment climate. The investment is also an endorsement of the quality of our management and of our staff – the vast majority of whom have been with us since the very beginning of this enterprise”.